SponsorsOne Inc (OTCMKTS:SPONF) fell 17% on Friday but up 18% for the past week. The company announced the signing of a distribution deal for Doc Wylder’s with Republic National Distributing Company. SponsorsOne CEO Myles Bartholomew stated that this is a massive milestone for the company to grow its distribution strategy as it seeks to reach leading national retailers.
Myles explained that the ready-to-drink market is current among the rapidly growing Spirits sector markets, and the company is witnessing massive interests for Doc Wylder’s. Most importantly, RTDs are expected to gain a share volume of 22% on total alcohol beverages by 2025, which is an increase from the current share market of 9.6%. SponsorsOne is poised to capitalize on the gain.
RNDC is among the country’s top alcohol beverage wholesalers that specialize in spirits and wines. The distributor has a centralized online platform for new products, key services, and features called eRNDC that offers 24/7 product search, account management &fulfillment, allowing their customer management tools to optimize value and sales activities. The deal is massive for SponsorOne, and in the coming months, it’s worth watching SPONF.
On Friday, SPONF stock slumped 17.50% at $0.0260 with more than 35.67 million shares, compared to its average volume of 9.88 million shares. The stock has moved within a range of $0.0245 – 0.0370 after opening the trade at $0.0359.